Both the insurance and financial industry trends of the early twenty-first century were dramatically re-shaped by the global financial meltdown of 2008 to 2010. Not only did the international crisis lead to the demise of several esteemed institutions, but it shifted perceived notions of the success of Western capitalist ideals. All over the world governments implemented new plans of intervention, however this was tempered by an over-arching pragmatic ideal that removes regulation quickly based on the domestic status.
One of the most visible recent financial trends is a greater focus on corporate social and environmental responsibility. Ernst & Young published a white paper stating that in 2010 there was a noticeable rise is the number of shareholder resolutions in the US that were focused on environmental or other forms of social accountability. While in 2010, these resolutions numbered 191, the year prior had seen only 150.
It is claimed social and environmental concerns are on the verge of a breakthrough in corporate America. Social responsibility resolutions have been gaining steady support from investors for the past six years. Twenty six per cent of ExxonMobil investors voted for the company to reveal more information to the public about its hydraulic fracturing process. This method of pumping high-pressure fluid through rock fractures to extract oil and natural gas is claimed to cause environmental damage.
Also the global economic situation changed the views of many corporations concerning unlimited and exponential expansion. There is now a greater focus on maintaining long-term growth and steady prosperity that can be resilient in changing economic climates. This is the new model replacing the strategy of hitting overly ambitious growth targets by any means necessary.
An unrestrained pursuit of growth in order to meet unreasonable targets has been the downfall of many corporations. Projections were based on market and region expectations that were rushed and could not survive in the shifting economic landscape. However, the strategy of sustaining growth demands strong leaders who can reset investor aspirations and can recognize where new drivers of growth will start.
The series of natural catastrophes at the start of 2011 is expected by many to raise insurances rates worldwide. Disasters in Australia, Japan and New Zealand were tragic occurrences that hugely increased the number of claims.
Lloyds of London, the largest insurance market in the world, said the series of disasters such as earthquakes and floods were likely to firm up insurance rates as companies look to recoup their losses. Caitlin, one of the largest insurers operating in the market, said a broad rise in rates across the market would be expected due to the high number of catastrophe losses in the first quarter of 2011.
One of the most visible recent financial trends is a greater focus on corporate social and environmental responsibility. Ernst & Young published a white paper stating that in 2010 there was a noticeable rise is the number of shareholder resolutions in the US that were focused on environmental or other forms of social accountability. While in 2010, these resolutions numbered 191, the year prior had seen only 150.
It is claimed social and environmental concerns are on the verge of a breakthrough in corporate America. Social responsibility resolutions have been gaining steady support from investors for the past six years. Twenty six per cent of ExxonMobil investors voted for the company to reveal more information to the public about its hydraulic fracturing process. This method of pumping high-pressure fluid through rock fractures to extract oil and natural gas is claimed to cause environmental damage.
Also the global economic situation changed the views of many corporations concerning unlimited and exponential expansion. There is now a greater focus on maintaining long-term growth and steady prosperity that can be resilient in changing economic climates. This is the new model replacing the strategy of hitting overly ambitious growth targets by any means necessary.
An unrestrained pursuit of growth in order to meet unreasonable targets has been the downfall of many corporations. Projections were based on market and region expectations that were rushed and could not survive in the shifting economic landscape. However, the strategy of sustaining growth demands strong leaders who can reset investor aspirations and can recognize where new drivers of growth will start.
The series of natural catastrophes at the start of 2011 is expected by many to raise insurances rates worldwide. Disasters in Australia, Japan and New Zealand were tragic occurrences that hugely increased the number of claims.
Lloyds of London, the largest insurance market in the world, said the series of disasters such as earthquakes and floods were likely to firm up insurance rates as companies look to recoup their losses. Caitlin, one of the largest insurers operating in the market, said a broad rise in rates across the market would be expected due to the high number of catastrophe losses in the first quarter of 2011.
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